Egypt’s exchange-rate flexibility has alleviated the impact of moderate capital outflows on the country’s foreign exchange (FX) reserves, limiting the effects of the US-Iran war on the country’s ‘B’/stable sovereign rating, Fitch Ratings noted in its latest report. Fitch highlighted that the Egyptian pound has weakened by around 10% against the US dollar since late February, following non-resident capital outflows estimated at more than $10 billion. [...]